Market Analysis for BTC and ETH on 7.19:
Market Review
Yesterday, BTC continued to consolidate, with a good 4-hour recovery, decreasing downward momentum, and a near-complete adjustment. It is expected to continue rising, with the daily level still needing consolidation. Market sentiment is good, focusing on volume changes. The weekly trend has somewhat recovered. Pay attention to fundamental information and the Federal Reserve's interest rate cuts. The intraday expectation is continued growth, with the larger cycle indicating the start of a new weekly upward cycle.
The second pie started an independent trend, with a mild pullback yesterday, not reaching the expected target. The 4-hour trend is extreme, with upward momentum blocked, requiring further consolidation. The daily level trend is extreme, with healthy volume, but the short-term increase is too rapid, necessitating consolidation. The intraday expectation is a sideways consolidation.
Altcoins are rising in sync with the mainstream, with the altcoin index beginning to rise. Most altcoins are experiencing a general increase. BTC's market dominance is starting to decline, and liquidity is shifting. ETH-related coins are heavily influenced by ETH and can be considered for follow-up. Pay attention to PENDLE, which has a good trend and is expected to rise. Binance has been hosting frequent activities, with ongoing Alpha point events. Points can be accumulated, and there are many opportunities for rewards.
Today's Focus:
BTC's 1-hour and 4-hour levels have returned to normal, with the daily level above normal. The intraday expectation is continued consolidation, with lower support at 116,500-117,000 and upper resistance at 120,000-122,000.
ETH's 1-hour and 4-hour levels have entered the overbought zone, with the daily level also in the overbought zone. The intraday expectation is a sideways consolidation, with lower support at 3,450-3,500 and upper resistance at 3,600-3,700.
